Your Journey
To Invest in Oman
The growing destination of Oman provides multiple benefits to global business investors that provoke them to proceed with the business incorporation process.
Benefits of Setting up a
Company in Oman
The growing destination of Oman provides multiple benefits to global business investors that provoke them to proceed with the business incorporation process. Some of the benefits that you can avail yourself by setting up a company in Oman are:
A Booming Economy
Some of the critical sectors in Oman are, Logistics, Education, Hospitality, Oil and Gas, Construction, Manufacturing, Food Processing, Tourism and Travel.
Holds a Strategic Position
The grounds of Oman holds a coastline of over 1700 km, which benefits the region to stand as one of the booming marine trade routes in the world.
Wide Talent Pool
Holding a high population of about 5.1 million (as of Jan 2023), the region has got a massive portion of the community as a working employee.
Robust Infrastructure
Oman ranks as one of the fastest-developing countries when it comes to infrastructure development.
Business-Friendly Nation
With the massive implementation of the strategic business process, the region has stood as a business-friendly region.
Tax Exemption
Company registration in Oman requires many business incorporation proceedings involving multiple levels of documentation clearance.
Prerequisites for Company
Registration in Oman
The following requirements should be met:
- Registered office address
- Minimum of two shareholders
- Minimum capital of OMR 20,000*
- Minimum one director (can be of any nationality)
*Kindly connect with us for confirmation.
Process of doing a Company Registration in Oman?
There are certain steps that need to be followed to do company registration in Oman; you also need to follow the post-incorporation process once you are done setting up a company in Oman. Below are the steps to be followed:
Branch office
Sole proprietorship
Commercial agency
Joint-stock company
Representative office
Limited liability company
Select a Business Structure
The first and foremost step in incorporating a business entity in Oman is to select a relevant business entity structure. The different entities are listed below:
Decide on a Trade Name
A trade name must be unique and related to the business. Decide on a name and submit the application to the Ministry of Commerce and Industry.
Decide on a Trade Name
The company name needs to be chosen wisely, as it will stand as a brand for your business. However, certain restrictions need to be followed while selecting a name for your business.
- The selected name can’t be a copy of the existing competitors
- A name that might sound offensive in a multiple-way including religious, political, military, meaning, or content
- An honorary sign or unique character in any of the regional, Arab, or international organizations
- A name that carries the word “Oman” or “Omani.”
- A name that denotes an incorrect geographical division of the Sultanate of Oman.
Submit Documents of Incorporation
This is the initial stage where all the necessary documents need to be submitted to initiate the incorporation process. The essential documents required are:
- Chamber of Commerce and Industry Affiliation Certificate
- Memorandum and Articles of Association
- Shareholders’ Visas and Passports
- Filed Company Registration Form
- Identity Card of Shareholders
- Certificate of Initial Deposit
- Tax Registration Certificate
- Capital Account Opening
Submit Documents of Incorporation
The essential documents required are:
Capital Account Opening
Once the documents have been submitted, a capital account needs to be opened to deposit the initial incorporation fee.
Register with the Chamber of Commerce
Register with the Oman Chamber of Commerce and Industry (OCCI) for compliance with the commercial rules and regulations required of a corporation in Oman.
Register the Business
This step involves the submission of the essentials:
• Municipality Approval
• Share Capital Certificate
• Legalised Opening Forms
Gather the Required Approvals
Apart from the registration with the OCCI, necessary approvals need to be gathered from the relevant government authorities. Now, the approval process depends on the nature, size, and business activities that are carried out in the organization. However, the list includes:
- The Import-Export Authority of Oman, if involved in the import-export of goods
- Industrial, environmental, and other relevant permits
- Registration with the Ministry of Manpower
- Registration with the Royal Oman Police
- Registration with the Municipality
- The tax registration department
Gather the Required Approvals
Apart from the registration with the OCCI, necessary approvals need to be gathered from the relevant government authorities.
Get the Company Seal
Last but not least, you need to hold the company seal, which is important for the business entity while drafting the business documents.
Get the Company Seal
Last but not least, you need to hold the company seal, which is important for the business entity while drafting the business documents.
Cloud Investment will help you with every step of your success journey. You can get one-on-one mentorship from our experts and get guidance on how to clear the legal proceedings and grow your business.
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Dedicated Office Package
Post-Incorporation Process
Business setup in Oman has some post-incorporation processes;
Apply for Visa
The next step after the incorporation process is to apply for visa services in Oman for all your employees. You can have a word with visa consultants to avail visa services at a faster pace.
Employee Registration
The employees must be acknowledged as a part of the business entity, and for that, registration of the employees under the company name is mandatory.
Conversion of Bank Account
The business capital account needs to be converted to the current account so as to ease the business transactions successfully.
Tax Exemptions in Oman
The following company registration in Oman don’t have to pay income tax in Oman;
- Profit earned by the disposal of securities listed in the Muscat stock market.
- Foreign companies doing activities related to the exploration of oil and gas
- Foreign companies working on government projects.
- Dividends received from an Omani company.
- Omani marine companies.
- Investment funds.
- Foreign airlines.
Other than income tax, Oman also has the following taxes:
- Personal Tax
- Withholding Tax
- Indirect Tax
Our Services for doing a Company
Registration in Oman
Cloud Investment comes with a business setup solution package that includes the following:
- Company Incorporation and Registration
- Public Relations Officer (PRO) Services
- Accounting and Bookkeeping
Cloud Investment is among the most trusted Business consultants for company registration in Oman.
To proceed towards starting a business in Oman today, do contact us. We’d be happy to assist.
Submit Documents of Incorporation
This is the initial stage where all the necessary documents need to be submitted to initiate the incorporation process. The essential documents required are:
- Chamber of Commerce and Industry Affiliation Certificate
- Memorandum and Articles of Association
- Shareholders’ Visas and Passports
- Filed Company Registration Form
- Identity Card of Shareholders
- Certificate of Initial Deposit
- Tax Registration Certificate
- Capital Account Opening
Submit Documents of Incorporation
The essential documents required are:
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FAQs
Frequently Asked Questions
The Sultanate of Oman encourages foreign capital that will enhance the overall development of the country.
What are the investment incentives offered in Oman?
Is a foreign company allowed to open a branch and representative office in Oman?
How many industrial estates, free zones, special economic zones are in Oman?
Is there any restriction on repatriation?
What are the criteria for getting a residential and investor’ visa?
What is the corporate tax rate in Oman?
How many days will I be required to do a business setup in Oman?
Is Value Added Tax applicable in Oman?
Your Journey To Invest in Oman
The growing destination of Oman provides multiple benefits to global business investors that provoke them to proceed with the business incorporation process.
